As many of you folks know... I have now acquired a very large understanding of how banks work when it comes to mortgages. Banks still have hundreds of thousands of homes on their books and are trying desperately to rid themselves or clear title to get back in profit in the mortgage division of their companies. They have all once again joined forces requiring only 3% down payment available to consumers with a speed rarely seen in this business, in large part because more lenders than ever are selling loans directly to Fannie and Freddie.This comes at a time with the Russian economy is on the verge of collapse (which affects us all but especially Germany) and if that happens? We are all back in the same place as 2008 only worse. GM has stopped importing cars to Russia, (which will mean lay offs here) Germany is Russias largest trading partner, and a stable economy in the region -- yet, if any of these dominos fall -- so goes Fannie and Freddie. There will be no bailouts of the future and -- this isnt just foxes guarding the chicken coop, this is foxes eating the chickens and asking, Please, Sir, may I have another?
Posted on: Sat, 27 Dec 2014 00:15:26 +0000
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